It’s tricky to see from the screenshot. What was the entry time / date? Today? (It says 26.7. on the chart?)
Also, I added slow stochastics (9,3,3) to my chart. Since I noticed similar behaviour when the market was overbought/-sold.
06/07/10 at about 10:30am EST. Does the stochastics help? Do yo only short if not oversold and buy if not overbought?
Ok, got it.
Well, it is obivously easier to comment afterwards and you did follow the system as far as I can see, however the two things I noticed:
Unlucky to enter at the bottom of that candle. Maybe entered a tad late? On my chart the price at the MACD cross shows as 1.1948 .
And see how the SAR dots are still a good distance from the candle? If you scroll through your chart you will notice that the dots usually come closer to the candle towards the end of a “wave”.
If you would have holded on until 4 pm you could have a bagged a small profit. That’s also the point where the MACD starts to turn.
I probably should have refrained from my stoch comment, as I really do not know that much about them (apart from the lesson on BP school). It is my understanding though, that it’s not the best idea to enter a trade whilst they are overbought/-sold. So for now I enter only whilst they are in the middle range.
There was a nice one today around 3am EST which got me 50 pips and another one has just started now.
Thanks for your help.
hey folks,
first of all thanks to james for creating this system and the people sharing there knowledge her on this board! i am going to start this on demo if i am with profit after two months. i will go live.
today was my first trade. after the right setup was given i pulled the trigger:
short @1.1952, tp @1.1877 (low from yesterday 7.6.2010), close @1.1939,sl @ recent high 1,1985 (33pips)
Resume:
after i pulled the trigger i wasnt 100% about the tp i had two options
- 00 level @1,1900 and 2) daily low from yesterday @1,1876
trade went south and touched 00 level i changed sl to BE, ADX was below 20 and really flat so i decided to close the trade manuely after the first PSAR dot apeared. so i made 13pips with the first trade.
not really sure about the tp should we take always the 45pips as target?
for me before i dont know the hitratio of this system i am more confident with a profit ratio >1,5 that was the reason i went for yesterday low as tp with 75pis versus sl with 23 -->75/23=3,26 means for my i can have more then 70% loosers and still making money.
hopefully one of the senors here or traders who trade this system with profit give me some feedback about my trades and thoughts.
thanks!
is he banned,and does anyone know if he’s still running the live room…can’t seem to get him on his email.
Neither senior, nor trading this for a long time. Hope you don’t mind 
Some points: There’s more than one trade a day, so you could split them 45pip. The original concept is
1/ When they switch direction or
2/ Stay in until the trend become’s a range
However I found that this will put you in the reverse direction for quite a bit already, so personally I set 20 pip when outside the UK/US session and 50 pip within that session. I do monitor it of course.
I took that trade too and T/P at 1.1915 worked fine for me. Remember don’t be greedy
I’m sorry, not quite sure what you mean by range.
Range between entering the trade and T/P? What I said above + gut feeling.
you made a trade today?
i am short @ 1,2018, sl 1,2069, tp 1.2000 or tp (2) 1,1985 since this was a supportline during the range.
PSAR 3 dots for short, macd was crossing for short too, since we are in a uptrend (EMA63) i take profit at 00, if 00 is going to break clean i take tp (") at 1,1980.
Yup, I’m in the same trade.
However I’m looking for T/P at 1.2 and exit there. That’d be 30 pips for me. (I cheated and entered a bit earlier :rolleyes: )
To be honest I’m bit lost with your post, but then it’s also bed time. Will try and figure it out tomorrow
Happy trading!
unfortunatly i got stoped out @ BE
i took sl to fast for BE. problem with this trade was greed and fear.
fear cause my initial sl was at the recent high 52 pips away, tp was at 00 only about 18pips to gain. i calculated my rrr and i felt it was realy bad but i was monitoring the hole day so i liked to do this trade. after i pulled the trigger i said if the price bounce at 00 i am going to close if he breaks clean i go for next support level @ 1.1985. after price bounced at 00 i took sl to BE and hoped he will go south again to trigger my tp at 00. he did but after my sl was hit!
daaaaamn…
next time sl is to far away i am going to set sl same amount like tp in this case i have a 1:1 ratio.
Trade from today: -64
short @1,2035, sl@1,2091, target 1,1959
unfortunatly i got stoped out with -64 pips
signals were ok, thats life…
hope tomorrow got another chance.
I agree. Not nice. MACD reversed very quickly. You think it was the news?
I’ll be off tomorrow. I don’t trade Friday.
Good luck!
[QUOTE=wilcox;198134]I agree. Not nice. MACD reversed very quickly. You think it was the news?
I’ll be off tomorrow. I don’t trade Friday.
Good luck![/QUOTE]
think the general problem with this system is its trenfollower. and as you see on the 1h chart theres a uptrend. the signal on 30 min chart was at the end of a corectur of 1h up trend. i dont know yet, cause i dont have many trades with this system, but i think it would be more profitable only take signals on 15min chart with main trend direction. or if not adjust the target with higher tf.
anyway i am long with another trade: -21 pips
long @1,2128 [email protected] target 1,2200 or reversel signal.
closed this one @1,2112
Trade from today: -49
long @1,2145, sl@1,2096, target 1,2200
unfortunatly i got stoped out with -49 pips
as far i had with this system 3 looser, 1 winner and 1BE
i stick to the entry rules, but think it only works with a excellent moneymanagement i dont have. anyway i will try it till i have 30 trades for a recap.
todays trade i entered with exactly the rules, but what i didnt attend to was the news in USD and that this trade already was in a triangel.
As my post was removed for cross-posting :S
I’d just like to ask again, what are the best hours to trade this system ? (GMT)
Thanks in advance,
I look at it all the time (again, had stopped for a while). I.e. there was a nice one yesterday from roughly 22:00 GMT to 10:00 GMT.
Yes, the explanations in the first few posts of the thread make it more clear.
It seems like this very rarely occurs on a dialy basis…do others notice that…how many times a day do you notice this on avg?